Eyam Museum Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02918928 (England and Wales)

Financial Statements for the Year Ended 30 November 2021

for

Eyam Museum Trading Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs F M P Clifford

Mr K J Marsden

Mr C A Parsons

SECRETARY:

Mrs L G Sidhu

REGISTERED OFFICE:

Eyam Museum

Hawkhill Road

Eyam

Hope Valley

Derbyshire

S32 5QP

REGISTERED NUMBER:

02918928 (England and Wales)

INDEPENDENT AUDITORS:

Landin Wilcock & Co

Statutory Auditor

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BANKERS:

National Westminster Bank Plc

1 Water Lane

Bakewell

DE45 1YY

CURRENT ASSETS

Stocks

8,069

12,256

Cash at bank and in hand

24,903

9,332

32,972

21,588

CREDITORS

Amounts falling due within one year

4

(43,434

)

(32,555

)

NET CURRENT LIABILITIES

(10,462

)

(10,967

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(10,462

)

(10,967

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(10,464

)

(10,969

)

(10,462

)

(10,967

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 May 2022 and were signed on its behalf by:

Mr K J Marsden - Director

1.	STATUTORY INFORMATION

Eyam Museum Trading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The company has been affected by the recent coronavirus outbreak, this resulted in the gift shop being closed for the majority of 2020. Due to the relaxation of restrictions the museum and gift shop have reopened during 2021.

The majority of creditor balances relate to the parent charity resulting in the net liabilities position, however the company will continue to be supported by the parent, Eyam Museum Limited.

The Directors have considered the above and it's impact on the company as a going concern. The company will be reducing costs where able and monitoring cash flow, however given the level of cash, estimated level of overheads and parent support they assess that the company is a going concern.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Distributions

Donations from the company to its charitable parent are treated as a distribution from total equity. A donation is recognised in the period in which it is declared. Profits distributed to Eyam Museum Limited are paid within nine months of the financial year in line with the Corporation Tax Act 2010 Part 6.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/21

30/11/20

£

£

Amounts owed to group undertakings

41,181

31,073

Other creditors

2,253

1,482

43,434

32,555

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Hampstead (Senior Statutory Auditor)

for and on behalf of Landin Wilcock & Co

6.	RELATED PARTY DISCLOSURES

Summary of transactions with parent

Eyam Museum Limited

(Eyam Museum Trading Limited is a wholly owned subsidiary of Eyam Museum Limited, a charity registered in England which is limited by guarantee).

The company covenanted its profits for the year of £nil (2020 - £nil) to its parent company Eyam Museum Limited. In addition, the company paid rental expenses and loan interest for the year to its parent company totalling £345 (2020 - £345) and £229 (2020 - £229) respectively.

At the balance sheet date the amount due to Eyam Museum Limited was £41,100 (2020 - £31,073).

Summary of transactions with other related parties

Francine Clifford

(Director of the company)

During the year Francine Clifford received royalties from the sale of books in Eyam Museum Trading Limited to the value of £813 (2020 - £43).

At the balance sheet date the amount due to Francine Clifford was £813 (2020 - £43).

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Eyam Museum Limited.